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Shanghai shares slip in morning session
By Ding Yining |
January 7, 2009, Wednesday
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Online Edition
Online Edition
SHANGHAI'S key stock index dropped slightly in morning trade due to uncertainty about profit outlooks among listed companies.
The benchmark Shanghai Composite Index was down 0.13 percent, or 2.60 points, to finish the session at 1,934.55 points. Turnover was 32.8 billion yuan (US$4.79 billion). Gainers outnumbered losers 438 to 401 and 69 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged down 0.01 percent to close at 586.39 points.
Banks showed mixed performance. Bank of America Corp said it is planning to sell US$2.8 billion shares of China Construction Bank's Hong Kong-listed shares.
Construction Bank, the country's second-largest bank, was down 1.76 percent to 3.90 yuan. Bank of Communications increased 0.39 percent to 5.15 yuan. China Merchants Bank Co rose 1.07 percent to 13.24 yuan.
Shanghai International Port (Group) said in a preliminary statement that profit for 2008 rose 27 percent from the previous year to 4.61 billion yuan. Its shares added 1.99 percent to 3.58 yuan.
Former director of Gome Electrical Appliances Holdings Ltd Du Juan is under house arrest, according to Caijing magazine, citing an unnamed source.
Beijing Centergate Technologies (Holding) Co Ltd, partly owned by Gome Electrical, dropped 0.88 percent to 3.38 yuan. Sanlian Commerce Co Ltd, also partly owned by Gome, was up 0.68 percent to 4.42 yuan.
China Railway Group Ltd, Asia's largest construction company, said its subsidiaries won 25 billion yuan of new projects. Its shares climbed 1.60 percent to finish the session at 5.73 yuan.
The benchmark Shanghai Composite Index was down 0.13 percent, or 2.60 points, to finish the session at 1,934.55 points. Turnover was 32.8 billion yuan (US$4.79 billion). Gainers outnumbered losers 438 to 401 and 69 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged down 0.01 percent to close at 586.39 points.
Banks showed mixed performance. Bank of America Corp said it is planning to sell US$2.8 billion shares of China Construction Bank's Hong Kong-listed shares.
Construction Bank, the country's second-largest bank, was down 1.76 percent to 3.90 yuan. Bank of Communications increased 0.39 percent to 5.15 yuan. China Merchants Bank Co rose 1.07 percent to 13.24 yuan.
Shanghai International Port (Group) said in a preliminary statement that profit for 2008 rose 27 percent from the previous year to 4.61 billion yuan. Its shares added 1.99 percent to 3.58 yuan.
Former director of Gome Electrical Appliances Holdings Ltd Du Juan is under house arrest, according to Caijing magazine, citing an unnamed source.
Beijing Centergate Technologies (Holding) Co Ltd, partly owned by Gome Electrical, dropped 0.88 percent to 3.38 yuan. Sanlian Commerce Co Ltd, also partly owned by Gome, was up 0.68 percent to 4.42 yuan.
China Railway Group Ltd, Asia's largest construction company, said its subsidiaries won 25 billion yuan of new projects. Its shares climbed 1.60 percent to finish the session at 5.73 yuan.
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